PLAYSTUDIOS, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

LEASES

LEASES

12 Months Ended

Dec. 31, 2023

NOTE 14—LEASES

Our operating leases primarily consist of real estate leases such as offices. Our leases have remaining terms of approximately one year to five years. During the year ended December 31, 2023 and December 31, 2022, operating lease expense was $4.8 million and $4.2 million, respectively. We do not have any finance leases. Our total variable and short-term lease payments were immaterial for all periods presented.

Supplemental balance sheet information related to operating leases are as follows:


	December 31, 2023
Operating lease right-of-use assets, net	$	9,369
Operating lease liabilities, current	4,236
Operating lease liabilities, noncurrent	5,699
Operating lease liabilities, total	$	9,935

Weighted average remaining lease term, years	3.1
Weighted average discount rate	4.5		%

Operating lease liability maturities:


Year ending December 31,	Operating Leases
2024	$	4,580
2025	2,323
2026	1,994
2027	1,376
2028	382
Thereafter	—
Total undiscounted cash flows	$	10,655
Less: imputed interest	$	(720)
Lease liabilities, total	$	9,935

As of December 31, 2023, we did not have material additional operating leases that have not yet commenced.